Filing Flows › Broadstone Net Lease (BNL) › Q1 2025
Broadstone Net Lease (BNL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Broadstone Net Lease (BNL) reported revenue of $109M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -3% from the quarter before. Operating margin was 34.9%, net earnings $16.7M (15.4% of revenue).
Broadstone Net Lease, Q1 2025: revenue $109M (+3% year over year), operating margin 34.9%, net earnings $16.7M, operating cash flow $71.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $109M | -3% | +3% |
| Operating profit | $37.9M | +9% | +45% |
| Net earnings | $16.7M | -37% | -74% |
| Operating cash flow | $71.5M | +12% | +0.8% |
| Free cash flow | $57.1M | -0.6% | -16% |
What changed
Revenue was $108.7M in Q1 2025, up 3% year over year and down 3% from the previous quarter.
Operating profit was $37.9M, a 34.9% margin (up 10.1 points year over year). Of the extra revenue versus a year earlier, 355% reached operating profit, above the 25% margin then. Total costs fell 11% while revenue rose 3%. Net earnings were $16.7M, down 74% year over year. The effective tax rate was 2.0%.
Operating cash flow was $71.5M (up 1% year over year), 409% of net income including minority interests. Non-cash charges added back $38.4M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $13.4M. Capital expenditures of $14.3M left free cash flow of $57.1M.
Questions
What was Broadstone Net Lease's revenue in the first quarter 2025?
Broadstone Net Lease (BNL) reported revenue of $109M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -3% from the quarter before.
Was Broadstone Net Lease profitable in the first quarter 2025?
Operating profit was $37.9M (34.9% of revenue) and net earnings $16.7M.